Innio (NASDAQ:INIO) Shares Gap Down – What’s Next?

Innio N.V. (NASDAQ:INIO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.37, but opened at $28.49. Innio shares last traded at $29.6950, with a volume of 424,598 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Innio in a research report on Monday, June 29th. They set a “sector perform” rating and a $39.00 price objective on the stock. Morgan Stanley began coverage on shares of Innio in a report on Monday, June 29th. They issued an “overweight” rating and a $47.00 target price for the company. The Goldman Sachs Group started coverage on shares of Innio in a report on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Zacks Research raised shares of Innio to a “hold” rating in a research report on Tuesday, June 30th. Finally, Bank of America started coverage on Innio in a research note on Monday, June 29th. They set a “buy” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.60.

Innio Price Performance

Innio Company Profile

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.